Home Advanced Materials Hollow Concrete Blocks Market Size, Share, Trends, Forecast to 2030

Hollow Concrete Blocks Market

Hollow Concrete Blocks Market Size, Share & Trends Analysis Report By Type (Solid, Cellular, Fully Cellular), By Product (Split-Faced, Smooth-Faced.), By Application (Residential, Non-residential, Industrial, Commercial) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032

Report Code: SRAM1593DR
Study Period 2020-2032 CAGR 5%
Historical Period 2020-2022 Forecast Period 2024-2032
Base Year 2023 Base Year Market Size USD XX Billion
Forecast Year 2032 Forecast Year Market Size USD XX Billion
Largest Market Asia Pacific Fastest Growing Market North America
The sample report only takes 30 secs to download, no need to wait longer.

Market Overview

The global hollow concrete blocks market size was estimated at USD 322 billion in 2021, and it is predicted to reach USD 500 billion by 2030, growing at a 5% CAGR during the forecast period (2022–2030).

Concrete blocks are used to build structures instead of traditional bricks and stones. Sand, aggregates, cement, and water are used to create them. Cement, sand, complete, and water make hollow concrete blocks. Inside and outside of infrastructure projects, they are used to build floors, walls, and structures. Because of its high quality, the product is likely to be used as an alternative for prevalent burnt clay bricks, concrete bricks, fly ash clay bricks, sand-lime bricks, and concrete bricks. These blocks facilitate the building project, reducing the time and labor required. 

Market Dynamics

Drivers: Growing Demand for Lightweight, Durable, and Reliable Construction Material

Hollow concrete blocks are light-weighted, thus reducing the overall weight of the structures. As a result, less percentage of steel or light member structure is required for a given R.C.C. building. In addition, hollow concrete blocks are highly durable as the concrete used in the production is compacted by high pressure and vibration, which provides significant strength to the open block. In addition, adequate curing increases the compressive strength of the blocks.

A rise in technological advancements in concrete and construction activities offers feasible solutions for building rigid and durable structures. Moreover, the growing need for stable building structures coupled with less maintenance of the systems is likely to upscale the demand for hollow concrete blocks market over the coming period.

Drivers: Infrastructural Development in Asia-Pacific and the Middle East

Asia-pacific is home to the world's most densely populated countries, including China, India, Bangladesh, Pakistan, Indonesia, and Thailand. They are witnessing a steep growth in industrialization coupled with increasing foreign investment. For instance, as per the National Bureau of Statistics (N.B.S.), China's investment in infrastructure rose by 2.9% y-o-y by the end of 2020, and the growth rate was 0.4% points higher than January to July period the same year.

In addition, it is expected that the Chinese construction industry will further grow over the forecast period due to the government's initiation of the 14th Five-Year Plan (2021-2025). The Chinese government has allocated a share of 10% to its 2021 to 2025 plan for urbanization, infrastructural, and regional coordination, which is expected to promote the growth of the construction segment, thereby contributing to the market growth on a positive note. 

Infrastructure construction activity in India is likely to increase because of government spending on new projects and improving the existing infrastructure's quality. As per India Brand Equity Foundation (IBEF), the country faces a housing shortage of 10 billion units in urban areas. In addition, 25 billion affordable housing units are required by 2030 to meet the increasing population demand in the urban society. This is anticipated to drive residential construction growth, positively impacting the hollow concrete market growth. 

The Middle East region immensely benefitted from the wealth created by their oil production. Due to oil export, the rise in worker remittances, trade, and capital flows has made massive capital in the region, thus creating a broader map towards its residential and non-residential development. Countries like Saudi Arabia, Iran, Israel, and Dubai are equipped with the most modern infrastructure and advanced technology. Dubai is considered to exhibit a world-prominent aviation and surface infrastructure, and further development is likely to propel the market growth on a positive note.

Restraint: Cost Barriers

Although hollow concrete blocks have several advantages, including lightweight, fire and moisture resistance, seismic resistance, and easy and fast installation, it costs more than traditional bricks. The concrete prices constantly fluctuate, affecting the regional variation, including raw-material and transportation costs. Being an eco-friendly option, it saves energy costs. However, the overhead cost would partially balance the economic advantage of saving energy costs. This is because buildings made from hollow concrete blocks cost higher than conventional clay bricks. Moreover, these concrete blocks have a less load-bearing capacity than solid concrete or clay bricks, which restricts the market's growth.

In addition, the cost of sizeable land puts a more economic burden on manufacturers, as storage areas must be spacious enough so that the multiple hollow concrete block units can be stored safely, with adequate room for lifting equipment and transporting vehicles to maneuver. These concrete block elements can be damaged by incorrect stacking and storage. The accumulated and stacked units must be protected to prevent accidental damage and discoloration, and the support material should be non-staining.

Opportunities: Developing Construction Industry Worldwide

The Asia-Pacific construction industry has been developing rapidly in recent years. The industry has witnessed numerous technological advancements and the proliferation of unique architectural designs that promote the usage of hollow concrete blocks in commercial, residential, and industrial applications. Multiple special economic zones (SEZs) are being set up in India due to the growing demand for office spaces by multinationals and IT hubs. For instance, in 2020, the real-estate segment attracted a private equity investment of USD 220 billion.

In addition, as per the Indian Brand Equity Foundation, by 2022, office space absorption is anticipated to cross 700 thousand square feet, with the national capital region (N.C.R.) being the major contributor. Further, the organized retail sector has witnessed significant growth in recent years, as young consumers adopt luxurious consumer goods to conform to higher living standards. The retail industry is thus increasingly utilizing hollow concrete blocks for building exterior load-bearing walls, interior load-bearing walls, and retaining walls to store consumer accessible products.

The buyer in this market is not usually the end-users. The buyer for this product also includes national and local governments, property developers, and other clients in many businesses who wish to build commercial and infrastructural projects or repair or extend existing buildings. Governments worldwide invest in projects, including low-cost housing and other civil infrastructure. Therefore, the global construction industry is expected to significantly impact the demand for hollow concrete blocks market across the globe, creating new opportunities for the market.

Regional Analysis

Region-wise, the global hollow concrete blocks market share is segmented into North America, Europe, Asia-Pacific, Central and South America, and the Middle East and Africa.

What is the Regional Scenario for the Sales of Hollow Concrete Blocks?

Asia-Pacific is the most dominant region for the global hollow concrete blocks market. It is estimated to reach an expected value of USD 240 billion by 2030 at a CAGR of 6%. Increasing population, developing economies, and rising foreign investment in the developing economies of India, Bangladesh, Indonesia, and Vietnam are expected to spur the growth of the construction industry in the region. This is expected to positively influence the demand for hollow concrete blocks in the future.

The Asia-Pacific market is recognized for the easy availability of concrete raw materials and skilled labor at a low cost, resulting in inadequate transportation and manufacturing costs. In addition, the shift in the global production landscape has favored emerging economies, particularly China and India, which is likely to influence market growth over the forecast period. Construction is the primary service sector in APAC owing to the high construction need of the developing economies in the region. The expansion of the construction industry in the Asia Pacific is attributed to the rising demands of a growing population.

North America is the second-largest region in this market. It is estimated to reach an expected value of USD 190 billion by 2030 at a CAGR of 4.5%. It is owing to the increased number of construction and renovation projects in the region. In addition, rising demand for housing coupled with increased government aid for residential construction in countries including the U.S. and Canada is anticipated to further benefit the market for hollow concrete blocks in the residential application segment.

The rapidly growing construction industry in the US, Canada, and Mexico and the rising demand for sustainable and advanced construction practices are some of the factors anticipated to drive the product demand. Furthermore, the rapid commercial growth of the region is likely to open new avenues for various industries to expand markets, such as hospitality, retail, and others, which in turn is expected to aid market growth for hollow concrete blocks market in the region over the forecast period.

Report Scope

Report Metric Details
Segmentations
By Type
  1. Solid
  2. Cellular
  3. Fully Cellular
By Product
  1. Split-Faced
  2. Smooth-Faced.
By Application
  1. Residential
  2. Non-residential
  3. Industrial
  4. Commercial
Company Profiles CEMEX SAB de CV CRH plc UltraTech Cement Ltd Brampton Brick Ltd. Acme Brick Company Magicrete Building Solutions Pvt. Ltd B.G.C. Pty Ltd Taylor Concret Products Inc Ublock International Company Limited
Geographies Covered
North America U.S. Canada
Europe U.K. Germany France Spain Italy Russia Nordic Benelux Rest of Europe
APAC China Korea Japan India Australia Taiwan South East Asia Rest of Asia-Pacific
Middle East and Africa UAE Turkey Saudi Arabia South Africa Egypt Nigeria Rest of MEA
LATAM Brazil Mexico Argentina Chile Colombia Rest of LATAM
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
Need a Custom Report?

We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports

Segmental Analysis

The global hollow concrete blocks market share is segmented by product, application, and region. 

Which Hollow Concrete Blocks Product Type is Most Preferred?

By product, the global hollow concrete blocks market is segmented into split-faced and smooth-faced. The split-faced product segment dominates the market and is estimated to reach an expected value of USD 310 billion by 2030 at a CAGR of 5%. Split-faced hollow concrete blocks construct commercial projects, including municipal buildings, schools, and theaters. In addition, they are used as load-bearing walls or veneers that can blend well with other architectural block finishes, especially in non-residential or commercial applications.

Split-faced concrete blocks are also used in the residential application segment as exterior wall cladding on the rear and sides of a condominium building and the front of the building, usually covered by a stone or brick in single-family houses. The most significant factor contributing to the product's growth is its low cost and fast construction process. The concrete block is more prominent than brick; it reduces construction time and labor costs.

By application, the global hollow concrete blocks market is segmented into residential and non-residential. The non-residential application segment dominates the market and is estimated to reach an expected value of USD 305 billion by 2030 at a CAGR of 5%. The non-residential application segment includes the construction of commercial, infrastructure, and industrial sector buildings. The commercial structure comprises the construction of offices, malls, retail, hotels, institutions, and others. The hospitality construction industry primarily drives growth in the commercial construction sector.

Due to rapid industrial expansion and increased government and private sector investments, the industrial construction sector is predicted to rise. The demand for the industrial building is fueled by international company expansion and newly developed manufacturing plants and processing units. Hollow concrete blocks market growth is expected to be in high order in factories, manufacturing and processing units, and warehouses due to these characteristics.

Industrial constructions are monumental architectures that require large assemblies of concrete wall structures. Hollow concrete blocks make industrial buildings more accessible and faster than traditional concrete construction, including heavy and bulky solid concrete blocks.

Market Size By Type

Impact of covid-19

COVID-19 had an adverse impact on the global economy. The global hollow concrete block market was also affected, slowing the revenue generation. The pandemic also caused a reduction in demand for hollow concrete blocks due to strict rules imposed by governments in various countries. Nonetheless, industries have centered on breakthroughs post the shutdown, which may help attract the interest of the majority of users within the projected period.

Recent Developments

  • June 2021- Oldcastle A.P.G., a CRH company, acquired EP Henry, which manufactures masonry products and hardscape products in the Mid-Atlantic region of the US. The acquisition aids the company in expanding its manufacturing and distribution facilities and strengthening its position in the building materials and masonry markets.
  • February 2021- CEMEX USA acquired Beck Readymix Concrete Co., Ltd., including its three ready concrete plants in Texas. The acquisition helped the company increase its production capacity and network in San Antonio, Houston, and Dallas-Fort Worth.

Top Key Players

CEMEX SAB de CV CRH plc UltraTech Cement Ltd Brampton Brick Ltd. Acme Brick Company Magicrete Building Solutions Pvt. Ltd B.G.C. Pty Ltd Taylor Concret Products Inc Ublock International Company Limited Others

Frequently Asked Questions (FAQs)

What is the estimated growth rate (CAGR) of the Hollow Concrete Blocks Market?
Hollow Concrete Blocks Market size will grow at approx. CAGR of 5% during the forecast period.
Some of the top prominent players in Hollow Concrete Blocks Market are, CEMEX SAB de CV, CRH plc, UltraTech Cement Ltd, Brampton Brick Ltd., Acme Brick Company, Magicrete Building Solutions Pvt. Ltd, B.G.C. Pty Ltd, Taylor Concret Products Inc, Ublock International Company Limited, etc.
In the Hollow Concrete Blocks Market, Asia Pacific has established itself as the market leader with a significant market share.
The region with the most rapid expansion in the Hollow Concrete Blocks Market is North America.
The global Hollow Concrete Blocks Market report is segmented as follows: By Product, By Application


We are featured on :